Per the AFR: "The Council of Financial....>

AUSTRALIA: Per the AFR: "The Council of Financial Regulators says the response

from Australia is working to support the recovery ahead, highlighting the

important role the financial sector had played. Following its meeting on Friday,

the Council (comprised of APRA, the RBA, Australian Treasury and ASIC) said in a

statement while the outlook was still uncertain, the response so far had been

strong. "Economic activity is now beginning to recover in some sectors.

Conditions in financial markets internationally and in Australia have improved

after a period of significant disruption in the early stages of the pandemic,"

the council said in a statement on Wednesday. "The ongoing coordinated response

of governments, central banks, regulators and the private sector is working and

will help to support the recovery ahead. However, the outlook, including the

nature and speed of the expected recovery, remains uncertain and the pandemic is

likely to have long-lasting effects both in Australia and abroad." It said

financial institutions would need to continue to show the flexibility they had

done in order to help support the recovery further."